Daniel Jones, who parted ways with the New York Giants in November 2024 before brief stints with the Minnesota Vikings and now the Indianapolis Colts, has been given a significant contract development just days before the 2026 free agency period begins on March 11. This news follows his impressive 2025-26 season start with the Colts, where he started 13 games before suffering a season-ending Achilles injury.
During that period, Jones threw for 3,101 yards, completed 68% of his passes, and recorded 19 touchdowns against eight interceptions. Notably, in the first 10 weeks, he led the Colts to an 8-2 record and topped the NFL in passing yards.
Colts Secure Jones with a Transition Tag to Retain Control
On March 3, the Indianapolis Colts applied the transition tag to Jones, signaling their intention to keep the quarterback from becoming an unrestricted free agent. This tag allows the Colts the right of first refusal on any offer Jones may receive, ensuring they can match competing contracts. Stephen Holder of ESPN explains,
“The tag guarantees the Colts the right of first refusal for Jones, preserving the right to match any competing offer sheet he might sign with an interested club.”
Holder further notes,
“Jones does not sign a competing offer sheet, he would earn a one-year guaranteed salary of $37.833 million.”
Chris Ballard, the Colts’ general manager, shared during the NFL Combine that discussions between Jones and the team were ongoing:
“When both sides are driven to get it done, it usually works out in the right way.”
Given the scarcity of experienced quarterbacks in the league, the Colts appear keen to retain Jones, who may attract interest from other franchises but seems likely to remain in Indianapolis.
Transition Tag Use on Jones Is a Rare Move for the Colts
This decision to apply the transition tag to a quarterback is uncommon in the NFL and marks a notable occasion for the Colts. According to Grant Gordon from the NFL’s official site,
“It’s a rare instance as the transition tag isn’t often used and hasn’t been applied to a quarterback since Jeff George was given it in 1996 by the Atlanta Falcons.”
Jeff George eventually signed a one-year deal worth $3.6 million after holding out during training camp, illustrating how infrequent and unique this approach is today.
Furthermore, NFL Network insiders Ian Rapoport and Tom Pelissero report that Indianapolis and Jones will continue negotiating a long-term contract, with a deadline of July 15 to finalize an extension.
Despite these moves, Jonathan Jones from CBS Sports highlights a source expressing caution:
“One league source believes the Colts are taking a calculated risk if they use the transition tag on Jones. The former Giants quarterback wouldn’t sign an offer sheet from just anywhere — think the Jets — and teams like the Cardinals and Dolphins may not have the money to get a deal done with Jones. On top of all that, teams may be wary of looking to lock up a quarterback they don’t know coming off a major injury.”
